Wind, a European venture capital firm built and backed by entrepreneurs, has secured a €30 million commitment from the European Investment Fund (EIF) for Wind II, its new early-stage Article 9 fund.
The investment follows Wind II’s first closing at €90 million and is set to drive the development of cutting-edge Deeptech solutions across Europe’s essential services and infrastructure industries.
Wind’s second fund, Wind II aims to address critical areas vital to human well-being and environmental health, such as food and air quality, mobility, energy, construction, and security. The fund will invest in early-stage French and European tech companies whose cutting Deeptech solutions enable essential services and infrastructure to adapt to the challenges posed by climate change, while operating in a manner that respects the environment.
Marjut Falksteadt, EIF Chief Executive, said: “The effects of climate change on critical sectors and infrastructures are becoming increasingly visible. It is therefore vital that we intensify our support for innovations that help industry and society to transition to a greener and more sustainable future. The EIF’s participation in Wind II underlines this commitment to supporting companies that harness cutting-edge technologies to create sustainable solutions. These investments are essential to ensure the sustainability of our planet and maintain long-term growth.”
“We are thrilled that the European Investment Fund has endorsed Wind II’s investment thesis,” added Thierry Vandewalle, Founding Partner at Wind. “This partnership will allow us to drive the development of technologies that are both sustainable and commercially viable.”
“From a business perspective, investing in Wind is a smart decision for our investors; recent data indicates that industrial startups tend to exit more quickly and at higher valuations compared to more traditional SaaS models,” commented Xavier Gury, Founding partner at Wind.
Wind II plans to invest in approximately 30 startups, with ticket sizes ranging from €500,000 to €5 million. The fund has already backed three pioneering companies to date: Eclipse (energy storage solutions), Sopht (green IT), and Entroview (battery diagnostics for gigafactories and automobile constructors). Other Wind investors include major institutional players such as Bpifrance, BNP Paribas, Sopra Steria, and over 120 successful entrepreneurs to date.
Wind II will be addressing two major pillars of the European Union (“EU”) Taxonomy climate mitigation and adaptation and as such, its strategy is considered fully aligned with the European Green Deal. It will strongly contribute towards EIF’s Climate Targets and Public Policy Objectives regarding Sustainability & Green Transformation.
“We anticipate the final closing in 2025, providing an opportunity for new strategic investors to join us on this promising journey,” concluded Thierry Vandewalle.
Read the orginal article: https://www.eu-startups.com/2024/09/paris-based-vc-wind-gets-e30-million-from-eif-for-its-new-early-stage-article-9-fund/
